The credit and debit card industry issues billions of cards. In the United States, most such cards include a magnetic stripe, but no contactless chip.
It has long been a goal of many different entities to produce an electronic card that can function with legacy magnetic stripe readers, while also working with contactless chip readers, while also providing additional security and other functioning capabilities due to electronic processing functions performed in the card. Such a card must have a power source, a microprocessor and various electronic components, yet it must still function within the constructs of current standards as to size, flexibility, readability, and security, to name a few. Also, such a card must be capable of being manufactured for a reasonable cost for high volume production.
In view of all of the constraints facing development of a such a suitable electronic card, such a card has not yet been introduced to the market, despite a long felt need for such a card, and ongoing research and development efforts by many different entities. The present invention advances the field of electronic cards by finally introducing an electronic card that can be manufactured for a reasonable cost that can meet all of the constructs necessary for its acceptance.